Just as snowflakes are unique, so are federal student loans. They differ from other loan types, such as mortgages, personal loans, and auto loans. Student loans have built-in flexibility, which makes paying them back much simpler.
How Great Lakes Can Help You With Your Student Loans. Great Lakes is a U.S. Department of
federal student loan servicer. We help with student loan questions, repayment, consolidation, payment relief, and more.
When Loan Payments Begin
Federal student loans do not require immediate payment, in contrast to other types of loans. You receive a six-month grace period before you must begin making payments on your subsidized and unsubsidized loans, and you are not required to make payments while you are enrolled in school at least half-time.
Your options for making monthly payments on federal student loans are very flexible.
Typical product loans, such as car loans, might not have flexible repayment options, making them challenging to repay if you lose your job, go back to school, or accept a job that pays less money.
Loan Forgiveness and Discharge
You might also qualify to have all or some of your federal student loans discharged. Teacher Loan Forgiveness and Public Service Loan Forgiveness are just a few of the forgiveness and discharge programs available Offsite .
Your federal student loan may also be discharged in certain circumstances; two examples are the Offsite or Closed School Discharge and Total and Permanent Disability Discharge. You may be eligible for a discharge of your federal student loan if your school closes while you are enrolled or soon after you withdraw; find out more about the procedure, requirements, and how to apply Offsite.
Loan forgiveness and discharge under standard terms are not dependent on the profession you choose or your exceptional circumstances.
Great Lakes’ objective as a federal loan servicer is to assist you in comprehending all of your options for student loan repayment. When you succeed, we succeed.
We’re here to assist you with anything pertaining to your student loans as your servicer. Remember that when it’s time to start repaying your loans, our top priority is seeing you succeed. The federal government evaluates our performance in large part based on how successfully students repay the loans we service for them.
You are not required to pay for assistance with student loans. Our knowledgeable representatives are familiar with all of your options and have access to your most recent student loan information. Learn more about the free services available to you.
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Great Lakes Educational Loan Services, Inc. 2401 International Lane Madison, WI 53704 Toll-free: (800) 236-4300.
Are Great Lake student loans being forgiven?
Your remaining Direct Loan balance will be forgiven by Public Service Loan Forgiveness with Great Lakes PSLF once you’ve: Made 120 qualifying payments Made the payments under a qualifying student loan repayment plan. when you made the 120 payments, you were employed full-time by an acceptable employer.
What kind of student loan is Great Lakes?
Great Lakes is a student loan servicer that was selected by the U.S. S. Department of Education (ED) to service your federal student loans. We keep you informed about your loans and assist you in managing their repayment.
How do I know if my student loans are private or federal?
1. Your federal loan applications, billing statements, and promissory notes should all have the name of the applicable federal loan program at the top of the document. Federal loan programs include the William D.
Is Great Lakes borrowing Service Federal?
Great Lakes’ objective as a federal loan servicer is to assist you in comprehending all of your options for student loan repayment.